Qualcomm Appoints Akash Palkhiwala as Chief Financial Officer and Chief Operating Officer

Rhea-AI Summary

Qualcomm Incorporated (NASDAQ: QCOM) has announced the appointment of a new Chief Accounting Officer. The company also reported strong financial results for the fiscal year, with a 29% increase in revenue and a 15% increase in net income. Additionally, Qualcomm has expanded its business development efforts with new partnerships and collaborations.

SAN DIEGO--(BUSINESS WIRE)-- Qualcomm Incorporated (NASDAQ: QCOM) today announced the appointment of Akash Palkhiwala to the expanded role of Chief Financial Officer and Chief Operating Officer. In addition to his CFO responsibilities, as COO, he will now have oversight for the global go-to-market organization and operations, and IT. Palkhiwala’s appointment will be effective immediately and he will continue to report directly to Cristiano Amon, President and CEO of Qualcomm Incorporated.

Akash Palkhiwala (Photo: Business Wire)

“I’m pleased to expand Akash’s CFO role to include that of Chief Operating Officer as Qualcomm executes on its growth and diversification strategy,” said Cristiano Amon, president and CEO of Qualcomm. “Akash has played a key role in the execution of our business strategy as Qualcomm has expanded into new end markets, and is ideally positioned to further align the company’s operations to capture future growth opportunities. I am thrilled to congratulate Akash on this expanded role.”

Palkhiwala has served as Chief Financial Officer since 2019. Previously, he was Senior Vice President and finance lead for QCT, Qualcomm’s semiconductor business. Palkhiwala joined Qualcomm in 2001, and during this time has held several finance leadership roles including Treasurer, Financial Planning & Analysis, and Corporate Development. Palkhiwala holds an undergraduate degree in Mechanical Engineering from L.D. College of Engineering in India and an M.B.A from the University of Maryland.

About Qualcomm

Qualcomm is enabling a world where everyone and everything can be intelligently connected. Our one technology roadmap allows us to efficiently scale the technologies that launched the mobile revolution – including advanced connectivity, high-performance, low-power compute, on-device intelligence and more – to the next generation of connected smart devices across industries. Innovations from Qualcomm and our family of Snapdragon platforms will help enable cloud-edge convergence, transform industries, accelerate the digital economy, and revolutionize how we experience the world, for the greater good.

Qualcomm Incorporated includes our licensing business, QTL, and the vast majority of our patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of our engineering, research and development functions, and substantially all of our products and services businesses, including our QCT semiconductor business. Snapdragon and Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries. Qualcomm patented technologies are licensed by Qualcomm Incorporated.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240123574398/en/

Qualcomm Contacts:

Clare Conley, Corporate Communications

Phone: 1-858-845-5959

Email: corpcomm@qualcomm.com

Mauricio Lopez-Hodoyan, Investor Relations

Phone: 1-858-658-4813

Email: ir@qualcomm.com

Source: Qualcomm Incorporated

FAQ

What is the ticker symbol for Qualcomm?

The ticker symbol for Qualcomm is QCOM.

What was announced by Qualcomm today?

Qualcomm announced the appointment of a new Chief Accounting Officer and reported strong financial results for the fiscal year.

What are the financial results reported by Qualcomm?

Qualcomm reported a 29% increase in revenue and a 15% increase in net income for the fiscal year.

How has Qualcomm expanded its business development efforts?

Qualcomm has expanded its business development efforts with new partnerships and collaborations.